The American Bankruptcy Institute wrote to Congress formally requesting that debtors who have filed bankruptcy cases remain eligible for Paycheck Protection Program loans, notwithstanding their respective bankruptcy filings, in any future amendments or legislation addressing PPP funding.
Commercial Chapter 11 filings increased 46% in November 2020 compared with November of last year, according to data provided by Epiq.
Total U.S. bankruptcy filings in October decreased 41% from last year, according to data provided by Epiq Systems. Commercial Chapter 11 filings increased slightly, with the 550 filings in October 2020 up 4% over the 530 recorded in October 2019.
Those practicing in and for skilled-nursing facilities (SNFs) expected failure and death at rates greater than other healthcare settings because of “pre-existing conditions” of the industry, according to an article in the ABI Journal.
Since the start of the COVID-19 pandemic, courts have alleviated some financial burdens of bankrupt retailers by granting “mothball motions,” allowing companies to shelve post-petition rental payments, according to an article in the August ABI Journal.
Total commercial Chapter 11 filings in July 2020 increased 52% from the previous year, according to data provided by Epiq.
The ABI reported total commercial Chapter 11 filings during the first six months of 2020 increased 26% to 3,604 from the 2,855 total filings during the same period in 2019, according to data provided by Epiq.
Bankruptcy judge Barbara Houser, president of the American Bankruptcy Institute, issued a statement on ABI’s commitment to diversity and inclusion, including an update on the work of ABI’s diversity and inclusion working group.
Total commercial Chapter 11 filings in May 2020 increased 48% from May 2019, according to data provided by Epiq Systems. However, total bankruptcy filings in May 2020 were down 42% from total filings in May 2019.
A “fourth” exit strategy of a structured dismissal in Chapter 11 continues to grow as a popular option for companies after they conduct a §363 asset sale, according to an article in the May issue of ABI Journal.